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GBP/CHF Potential Upward Movement

GBP/CHF Long-Term Trend: Bullish

Key Resistance Levels: 1.25187, 1.26617, 1.27295.

Key Support Levels: 1.24211, 1.23549, 1.22809.

Daily Time Frame:

The price on the higher time frame is in a clear upward movement where a series of higher highs and lows has been posted after breaking the bearish channel to the upside by posting a double bottom pattern. A move to the upside is expected in the coming hours.

GBP/CHF Medium-Term Trend: Bullish

1-Hr Time Frame:

On the lower time frame, the market is traded inside a bullish channel formation where it retraced to the highlighted zone where we expect it to move now to the upside with a new bullish impulsive wave toward the target profits.

Buy Limit Order @ 1.24280

TP 1 @ 1.24924

TP 2 @ 1.26617

Stop Loss @ 1.23961

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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